Falfurrias Capital Partners acquires majority interest in DCTech company Industry Dive

Congratulations to the co-founders, CEO Sean Griffey (pictured above), CRO Ryan Willumson, CTO Eli Dickinson and the entire Industry Dive team, the best little company that DCInno never heard of. Industry Dive announced today that Falfurrias Capital Partners acquired a majority stake in the DC-based company. According to the company,  Industry Dive, "provides premium business news, original analysis, and other information products and services to more than 7 million executives across 19 industry verticals ranging from banking and supply chain to retail and waste." Founded 7 years ago, in 2012, Industry Dive started with a $900 thousand capital infusion by the founders and a small group of local Angels. Angels contributed $400 thousand in an initial seed round. That round was followed by another $250 thousand in equity and $250 thousand in convertible debt. The Washington Business Journal reported 2018 revenues as "roughly $22 million." The company's acquisition press release states, "Industry Dive's three-year growth rate of 348% placed the company in the top half of the Deloitte Technology Fast 500 and earned it a ranking as the 13th fastest-growing media company on the 2019 Inc. 5000 list. The company also has been recognized three years in a row as a top workplace by the Washington Post, and has...

Sorry DC… this isn’t the big one.

You know the definition of a slow DCTech news day? Every business day DCInno reports on everything that nobody needs to know in DC. Each day there is a feature called The Big One. Now I don't know about you but the big one to me means something.  It's like the earthquake that sinks half of California into the sea or the Heart Attack that ends a life. But not a pretend heart attack like this one from Sanford and Son: If you can't see the video link here. But according to DCInno, the big one on November 1, was an App that keeps you posted on the happy hour deals offered by bars. That's a cute little feature. Maybe Groupon could use it to delay their slow death. There are over 60,000 restaurants in the US and all of them are on yelp...

Andy Powers – Friend of Danny Boice & Fellow Criminal

On March 16, 2018, the Commonwealth of Virginia's State Corporation Commision (SCC) filed against Andrew Brent Powers (AKA Andy Powers) and his company Comunniclique (DBA CliqueAPI) alleging multiple violations of the Virginia Securities Act. On July 13 of that year, the courts found Andy Powers guilty of 108 violations of the Act. Powers was also was found guilty of failing to respond to a subpoena.  That basically means he's on the run and did not appear to defend himself. Originally CliqueAPI and Powers mounted an aggressive defense and then in April, Power's Attornies, The Aegis Law Group, filed (see filing) that they were withdrawing from counsel on this case. Did Powers run out of money to pay for representation or were his attorney's alarmed that he was not acting in good faith? It seems like from that time, Andy was non-responsive to the case. According to court records, Tom Bayly, a senior investigator with the SCC, Division of Securities and Retail Franchising testified that the Division received a complaint in the fall of 2016 from the accountant of one of  CommuniClique's (AKA Clique and Clique API) investors regarding several irregularities. Subsequent investigations found that Powers was reporting to prospective and existing investors in CommuniClique, that...

3Si Phony VC

Everyone Who Knows Anything, Knows 3Si Phony VC is a Sham. Well, everyone except the local tech rags. With them, when it comes to that "knowing" thing, there appears to be a problem. These Tech "journalists" either don't know much or don't care about sharing letting what they know to get in the way of a story on deadline. The problem in DC is that too many of the "journalists" at rags like Technically DC and DCInno simply reprint bullshit without doing research. So when they post an article like this one, "WeWork’s veterans-in-residence program expands to DC," by Technically DC or this one, "The 10 Entrepreneurs in WeWork’s First D.C. Veterans in Residence Program," by DCInno the damage the very ecosystem of which they claim to be supporters. I reached out to one, count them, one, of the listed "Team Members" on the 3Si Web Page to ask about his relationship with 3Si. His response, "I Read your 3Si expo. I’m unfortunately linked with them and can’t seem to distance myself. One of the comments you posted came from my client. I Also have a second client that 3Si attempted to screw." I'm no journalist, yet, in doing a modest amount of research I...

Amazon Schmamazon – DC Don’t Need No Stinkin Amazon HQ2

The DC Tech Scene is all a tizzy over the possibility that Amazon will open its second headquarters, or what all the cool kids are calling Amazon HQ2 somewhere in the DMV. For those of you who are living in a hefty bag, let me catch you up. In September 2017 Amazon announced it's intention to spend $5 billion in construction cost for a second headquarters that would employ 50,000 people somewhere in North America. They invited economic development authorities and local governments to join a beauty contest for the honor to host Amazon HQ2. On January 19th Amazon made their decision. Based on all the tax incentives and other corporate welfare offerings from all the bidding parties, Amazon narrowed their choices to 20 finalists from 17 major metropolitan areas. They are: The DC region has 3 bites at the 20 bite apple. Washington DC, Montgomery County, and Northern Virginia.  And all of a sudden the press went a flutter! Well, not the Journalists, let me rephrase that. The link baiters at DCInno and Technial.ly.dc better known as (Technically not Technically) all have Amazon fever. Well, folks, I'm not all aflutter...

#DCTech 1776 Merger or House Cleaning?

Is the Benjamin's Desk, 1776 Merger a merger or is it something else? The deal that has been in the works for 2 months finally closed today. After much consternation, wrangling and negotiated face-saving for the vanquished 1776, Benjamin's Desk kindly allowed Evan Burfield to pretend he's not been pushed out of that which he's burned to the ground. My sources report that Evan's face-saving measures have been a contributing factor in the delay of closing the deal. Is it a merger of equals? Well, it's a merger of equals if you don't take in to account 1776's dire financial straights and incredible operating losses under Evan Burfield's stewardship. It's a merger of equals if you want to insult Jennifer and Anthony Maher who appear to be growing a credible business.  It's a merger of equals if sick equals healthy. Here are the facts we know about the Benjamin's Desk - 1776 Merger The press release says it's a merger Press releases report spin...